ItsKoldo.Eth

Web3 Degen // Lawyer specialized in IT

[Fazt @FaztTech]

Antes:
“Claude y GPT son demasiado peligrosos, hay que limitarles el acceso a ciberseguridad”

Ahora:
“Nuestro modelo hackeó 3 empresas reales durante las pruebas de seguridad.”

La competencia de ahora es, quién se sale más del entorno de prueba al parecer

[Abstract @AbstractChain]

Introducing Panoramic Governance: A new mechanism that rewards both users and builders across a chain’s ecosystem.

Panoramic Governance (PG) brings complete ecosystem alignment to L2 blockchains for the first time.

Let's get into it 🧵

[Abstract @AbstractChain]

PG was researched and designed to solve the fundamental misalignment between users, builders, and governance.

PG can be implemented on any L2 blockchain that has a native governance token and a sequencing system.

Read the full research paper here: https://t.co/0hUB7i3yGr

[Blockchain Show Europe @blockshoweurope]

🔥WE ARE BACK!🔥
Bigger and stronger than ever before! Stay tuned for more updates! #NFTSE 2024

[Chainlink @chainlink]

Chainlink is the only platform that can power tokenized #RWAs at scale.

Seven services. Hundreds of trillions of dollars. One platform.

[Pocket Universe 🟣 @PocketUniverseZ]

Scammers can now hide links in any discord text ☠️

Watch out for hidden wallet drainer links
e.g. 👇

[Slorg @SlorgoftheSlugs]

Looking back, almost all of our assumptions about NFTs were wrong:

PFPs should have been the perfect vehicle to drive community growth.

Groups that adopt them have a distinct advantage by letting its members represent the tribe in a front-facing way.

Yet, the benefits haven't manifested. Instead we've become trapped in a bubble a few thousand large.

The problem is that NFT projects see the NFT as the ends and not the means.

Everything about these projects exist as a tribute to the NFT itself. Art upgrades, staking, raffles. It's all so self referential.

An obsessive fascination with the tool.

It would be as if early adopters of television formed a cult around TV sets.

That's what most NFT projects are at their core.

This mindset was enabled by a special period in time where so much money was being printed that it was feasible for images of monkeys to run up into the near million dollar range. A testament to our excess.

Fast Forward to Today...

25,000 projects with 10,000 supplies, but only 4,000 daily users.

250 million seats for 4,000 people to fill.

These numbers repeat often in my mind, because they represent a collective head-in-the-sand effect where the problem is obvious, but most fail to acknowledge it. Or they at least don't act as if they do.

The PFP has become overly reliant on financialization and speculation — that much everyone can freely admit.

At one point a few anomalies out of the tens of thousands of these projects were able to make a handful of people their yearly salary. But how many didn't make that? How many won't? Surely the majority.

And this money does not come from an infinite wellspring. Each transfer of value chips away at someone else's capital. These PFP projects have become 0 sum games because of the closed nature of the system we find ourselves entrenched in.

People get burned, they burn out, and they leave.

I dare you to check your DMs both on twitter and discord later today. Clear them out, and see how many people are no longer here at all.

In most other realms of human interaction, whether reddit or the real world, you exist in a much more open ecosystem. You have the chance to bring other people in.

Here we bleed people out. People who were once riding the high from a massive injection of liquidity.

Why is this though?

Because of the hyper-financialized nature of NFTs, the fact that we create projects BEFORE creating functional communities, and the slew of negative associations that have formed around them — we've become an insulated ingroup.

Additionally, the nature of twitter as our substrate of interaction has profound implications for our culture. One of which is that the type of individual who dominates in the attention economy emerges as a default representative and leader of the space.

Many of these people do so by riding the twitter algorithm and stoking the cognitive biases of others — such as by giving them the hope that they will become immensely wealthy.

The projects that survive, and try to become communities after-the-fact are put at odds with the speculators that saturate their ranks. They are noisy & demanding and force the project to capitulate because projects are forced to compete for bodies just to survive.

And now, the community may have to sterilize itself to be as generalizable as possible to attract as many people as they can.

This means that the ability to select for certain values is compromised, because those that are too specific in this regard will innately attract less people, and the speculators will take their attention elsewhere — limiting your access to the limited number of people here.

Just looking at human history, throwing 10,000 people into a group together and expecting them to form something like a community isn’t realistic. They’re built 1 by 1. Genuine relationships are formed. People are oriented towards common enemies and take action together.

Have you seen how hard it is to compel the average NFT degen to take action within their project of choice?

And how many people are quick to jump ship to another project?

When people are choosing these ‘communities’ based on their speculative prospects instead of some deeper value, that's when you know were in trouble.

Ultimately, successful NFT projects will succeed in spite of the NFT model, not because of it.

NFTs are tool worship, and we have to move beyond this self-referential state of operating.

Because right now we launch these projects hoping a community will consolidate around them, rather than leveraging the technology to represent already functional communities with a PFP.

[ItsKoldo.Eth @Web3Koldo]

@trmoter @DeGodsNFT @y00tsNFT U got this🙌

[ItsKoldo.Eth @Web3Koldo]

@crypt00verse @FaktsTrend No words man!! Just gratitude♥️

[ItsKoldo.Eth @Web3Koldo]

👋 Saying goodbye (for now) after an incredible three-year journey in the world of web3! It's been a rollercoaster ride filled with valuable experiences and lessons learned, making every moment worth it.

I want to express my deep gratitude to the fantastic team at @FaktsTrend and the community, who made this journey so memorable. Thank you for all the support and collaboration!

As I step away, I'm thrilled to leave Fakts Trend in the more than capable hands of @RoggersEth & @Alex101labs I have no doubt they'll continue to thrive and take @FaktsTrend to new heights!

[ItsKoldo.Eth @Web3Koldo]

@peribanez2 @FaktsTrend 🐐

[ItsKoldo.Eth @Web3Koldo]

@trmoter @FaktsTrend So grateful to have met people like you!! We'll keep in touch always🙌

[ItsKoldo.Eth @Web3Koldo]

@CallmegEth @FaktsTrend 🤝

[ItsKoldo.Eth @Web3Koldo]

@mlauracrypto @FaktsTrend It was a real pleasure working with you♥️

[ItsKoldo.Eth @Web3Koldo]

@Utdmartins @FaktsTrend 👑

[• @martinsrtw]

Welcome to FAKTS TREND Ecosystem

• Multichain Community
• FAKINTOSH collection x BTC (Free Mint - July)
• FAKTS TREND collection x ETH (Mint TBA)
• On-Chain innovative utilities • Branding (events - IRL Products)

[ItsKoldo.Eth @Web3Koldo]

@RoggersEth @FaktsTrend Hard work pays off🤝

[ItsKoldo.Eth @Web3Koldo]

@FaktsTrend GM

[ItsKoldo.Eth @Web3Koldo]

@FaktsTrend @KulbikC #FB4P

[ItsKoldo.Eth @Web3Koldo]

@FaktsTrend #FB4P